I think we can double this work

Domino’s Pizza Shares rose Monday after the company reported a better-than-expected quarter and laid out ambitious growth plans.

The strong performance came as the pizza chain said it saw higher transactions and better traction among lower-income diners with its value propositions.

The pizza chain reported same-store sales growth of 3.7%, better than the 3.1% Wall Street had expected. Revenue of $1.54 billion was also higher than the $1.52 billion estimated by analysts, at a time when the broader pizza category and the restaurant sector overall faced headwinds.

Domino’s CEO told CNBC in an interview Monday that the company is just getting started and aims to double its market share.

“I want people to understand that I think we can double this business, and it’s not an exaggeration, given our track record, and given our position in other markets, to think we can get there,” said Russell Weiner, the company’s CEO.

The quarterly report comes at a time when Domino’s’ two largest generic competitors are struggling. Sales rumors are swirling around both Yum Brands Pizza Hut, which underwent a recently completed strategic review, and Papa John’s.

While shares of both Domino’s and Papa John’s have fallen this year, Domino’s stock is down about 3.6%, versus a 13.8% decline for its competitor.

Weiner said the success came from providing value for a staple Domino’s menu item. In the past, this was called the reduction in the middle of the plate.

“The only disruption in the pizza category is the disruption we cause, right? Is this category still growing?” 1 to 2 percent [and] “We’ve achieved 11 share points in 11 years,” he said. “Two of our main competitors…the rumor about both of them is that they’re up for sale. So, if that happens, we’re in a very unique place.”

Growth in the quarter also came from traffic, or more purchases, rather than tickets, or order value – a rarity in the industry. McDonald’s and Starbucks They were also able to achieve it. Weiner pointed to the strength of spending among lower-income consumers, which grew in the fourth quarter and throughout the year.

He calls it “the power of profit.”

“We can maintain this price and make money…why would we want to accept the price [and] “Feeding fewer consumers, if we can maintain and grow the profitability of our franchisees at that low price and continue to gain share,” he said.